Everthing You Worked For About To Vanish?

[Naam]

If possible, maybe the best currency to buy now would be the Chinese Yuan.

the problem is you canNOT buy CNY except via NDFs (Non Deliverable Forwards). should a speculation in CNY be of interest to you then contact your bank and weep when you hear the answer as your bank will tell you that minimum tradeable batches are values of ONE MILLION DOLLAR (United States Dollars, not Zimbabwe Dollars).

[britmaveric]

Best option is Yen or $.

[Naam]

Best option is Yen or $.

till both currencies fall to shitty levels again as they did before.

[Owain]

the problem is you canNOT buy CNY

Yes you can.

[loong]

If possible, maybe the best currency to buy now would be the Chinese Yuan.

the problem is you canNOT buy CNY except via NDFs (Non Deliverable Forwards). should a speculation in CNY be of interest to you then contact your bank and weep when you hear the answer as your bank will tell you that minimum tradeable batches are values of ONE MILLION DOLLAR (United States Dollars, not Zimbabwe Dollars).

So it is possible to buy Yuan, I wasn't sure, but not possible for me if that's the minimum.

[Naam]

the problem is you canNOT buy CNY

Yes you can.

yes you are right, a few possibilities do exist.

-if you are a Hong Kong resident you can have a tiny CNY account. about the size of a mosquito arsehol_e.

-when on a trip in China you buy of course local currency to pay for expenses. when out of China (exception HKG) the only purpose they serve would be wiping one's butt.

[Naam]

If possible, maybe the best currency to buy now would be the Chinese Yuan.

the problem is you canNOT buy CNY except via NDFs (Non Deliverable Forwards). should a speculation in CNY be of interest to you then contact your bank and weep when you hear the answer as your bank will tell you that minimum tradeable batches are values of ONE MILLION DOLLAR (United States Dollars, not Zimbabwe Dollars).

So it is possible to buy Yuan, I wasn't sure, but not possible for me if that's the minimum.

actually you are not buying Yuan. you are buying a derivative which enables you at maturity to change the denominated Yuan amount into a certain currency (this currency is determined when you buy the NDF).

[Owain]

yes you are right, a few possibilities do exist.

-if you are a Hong Kong resident you can have a tiny CNY account. about the size of a mosquito arsehol_e.

-when on a trip in China you buy of course local currency to pay for expenses. when out of China (exception HKG) the only purpose they serve would be wiping one's butt.

You can open a foreign currency account in Yuan and change your dollars in to it and then gain if the Yuan increases in value against the dollar.

[Naam]

yes you are right, a few possibilities do exist.

-if you are a Hong Kong resident you can have a tiny CNY account. about the size of a mosquito arsehol_e.

-when on a trip in China you buy of course local currency to pay for expenses. when out of China (exception HKG) the only purpose they serve would be wiping one's butt.

You can open a foreign currency account in Yuan and change your dollars in to it and then gain if the Yuan increases in value against the dollar.

that's waht i said already but you forgot the size which i mentioned. see above.

[tmd5855]

educate me: is this good for people being paid in USD, changing to GBP and then to THB? Or impossible to tell?

Owing to the amount of employees they have who live and work abroad. Company was told about the £ dropping, so have offered to pay us in Euros or $US. Offered it at a fixed 1.27euro = £ or $1.71 = £1.

Since I live in thailand electing to be paid in US$.

$ and baht have only moved by 4.5baht over the year, compared to the £ which has moved 20+baht to the £.

Just lucky with my job.

Know of guys out here that are feeling the pinch.

[Owain]

that's waht i said already but you forgot the size which i mentioned. see above.

No you did not. You said you can open an account in HK, I am not talking about that. You can open an account outside HK and get interest in Yuan and also get whatever the Yuan might gain against other currencies as well. I think you should try googling more than you have been already.

[Naam]

You can open a foreign currency account in Yuan and change your dollars in to it and then gain if the Yuan increases in value against the dollar.

and if the Yuan does not increase against the Dollar (as the graph for the last six months shows) you can cash your money, close your account and pay for a lunch in one of HKG's McDonalds. i like wise cracks

[Owain]

and if the Yuan does not increase against the Dollar (as the graph for the last six months shows) you can cash your money, close your account and pay for a lunch in one of HKG's McDonalds. i like wise cracks

I did not say that it would increase. I am saying it is possible to buy Yuan, lots of it and have it in bank account paying interest and also making on the exchange if you cash it in when it has risen You seem to think you have to spend a million to invest in Yuan. You were wrong.

Edited January 24, 2009 by Owain

[Naam]

and if the Yuan does not increase against the Dollar (as the graph for the last six months shows) you can cash your money, close your account and pay for a lunch in one of HKG's McDonalds. i like wise cracks

I did not say that it would increase. I am saying it is possible to buy Yuan, lots of it and have it in bank account paying interest and also making on the exchange if you cash it in when it has risen You seem to think you have to spend a million to invest in Yuan. You were wrong.

may i suggest you learn to read AND comprehend what others are posting? i wrote

quote: "you can have a tiny CNY account. about the size of a mosquito àrsehole."

does that indicate that one needs a million? or does it say you can only invest a very small amount? are you aware what the expression "tiny" means? are you able to estimate the size of a mosquito àrsehole? if yes, is it BIG or small. give me and yourself a break man! you are ridiculing yourself.

perhaps you mixed up and took "the million" from a different posting where it was mentioned in context with the purchase of Non Deliverable Forwards. but that's not an excuse. you don't have to be ashamed not knowing what an NDF is. but if you have no <deleted> idea what exactly is discussed you can always ask. there's no harm in asking instead of presenting irrelevant and distorted bullshite.

[Owain]

may i suggest you learn to read AND comprehend what others are posting? i wrote

quote: "you can have a tiny CNY account. about the size of a mosquito àrsehole."

does that indicate that one needs a million? or does it say you can only invest a very small amount? are you aware what the expression "tiny" means? are you able to estimate the size of a mosquito àrsehole? if yes, is it BIG or small. give me and yourself a break man! you are ridiculing yourself.

perhaps you mixed up and took "the million" from a different posting where it was mentioned in context with the purchase of Non Deliverable Forwards. but that's not an excuse. you don't have to be ashamed not knowing what an NDF is. but if you have no <deleted> idea what exactly is discussed you can always ask. there's no harm in asking instead of presenting irrelevant and distorted bullshite.

I am sorry that you are having problems reading your own posts. The quote in red from you above was in relation to a HK account. Now I know you cannot read too good but what I am saying is that you can have an account outside of HK and put as much Yuan in it as you wish and it is not the size of a mosquitoes arsehol_e.

What you also said was that you cannot buy Yuan except for an NDF or going to your bank and investing a million,also just buying when you are on holiday, again you are wrong(must be a bad day for you as internet googlegenius 2008 )

Please try and keep up. Pretty obvious you are clueless on this subject.

Edited January 24, 2009 by Owain

[Brigante7]

I think Gordon Brown is doing a great job in a very difficult situation. What is happening is not his fault anyway. Everything I worked for is certainly not about to vanish either.

Tony Blair, Gordon Brown and Allister Darling make me ashamed to be Scottish at times, what a bunch of cu_nts, us Scots are meant to be tight with money.

What the goverment should have done is instead of giving all the money to the banks, they should have given it directly to the people of the country and let them spend it and thus get the economy moving again and let the banks that are in trouble, due to their own greed, go to the wall, not sure if that would work and i'm sure somebody will correct me.

The UK needs a revolution to overthrow the goverment and clear the country of all MP's and to elect a common sense party (Can't see it happening though).

[mickba]

Governments of today aren't like previous governments. Just because the Mao regime killed 60+ million soles and Stalin 30+ million soles, doesn't mean history could repeat. Man has evolved so much in the past 50 years

that must have been a real blessing for the soviet and chinese footwear industry

Your so bad! Funny but bad

I'm sure we're not supposed to resort to this stuff when many people are not using their first language.

Nearly funny, but it didn't quite work for me unless you can tell me how you kill a piece of long since dead leather or rubber. Now perhaps if you'd worked in something about fishmongers........but yes I do know the plural of sole is sole and no, I don't know how you kill a soul either, unless we really are heading for eternal damnation.

Enough. Shall I or shan't I?

[Owain]

The UK needs a revolution to overthrow the goverment and clear the country of all MP's and to elect a common sense party (Can't see it happening though).

All for that. Politicians are all the same. When the Tories were in power everybody was slagging them off and now it is Labours turn and I pretty sure we will all be back to slagging the Tories off in a few years time.

[samuibeachcomber]

The UK needs a revolution to overthrow the goverment and clear the country of all MP's and to elect a common sense party (Can't see it happening though).

All for that. Politicians are all the same. When the Tories were in power everybody was slagging them off and now it is Labours turn and I pretty sure we will all be back to slagging the Tories off in a few years time.

sure they are as bad as each other.If i had my way i'd clean them all out.Seriously think you'd need the military to take over first.The french are good at revolutions,maybe get them to come across the channel and show us how to do it.

[OxfordWill]

is it likely that the pound to the THB will fall greatly in the next year? What is more likely- 51% it will fall below 3 more points for a long time or 51% more likely it will not? Place your bets..

[torrenova]

I used to be an investment banker and I can honestly say that neither the quants analysts, nor management had anywhere near a full understanding of the cutting edge derivatives which produced such massive profits (and bonuses) almost out of thin air.

The thing is, that using proprietary trading, where you risk the bank's capital, rather than clients money, if one bank won then another lost. All things had to balance. Introduce these derivatives where banks built these packages for coprorate clients and took fees etc. all banks won so no-one complained. The companies were then shit scared of their liabilities so in come the banks again to provide insurance (more fees). They then sold this insurance on and on and on down the line until it reached people who cannot now pay their liabilities. Thus, the liabilities crawl back up the food chain to the banks themselves but the people who set these deals up are either long gone (retired on mega money) or if they are still there, they have the mega money plus alpha in the bank. Even sacking them does not bring it back.

No-one could have foreseen what has happened that is true but neither did anyone bother too much as we had (now worthless) insurance. Effectively, if you can squeeze 1% out of say $1,000,000,000 deal, then you make $10,000,000. Reserve a bit, perhaps $$1-2,000,000 and pay out the remaining as huge sums to the management for being so clever and the deal makers for reinventing the money printing press.

Sad, but true.

Brown is just a simple guy who is way out of his depth but he has been chasing power since going to university a fw years too early. What sort of sad <deleted> does that ? He should have been pensioned off long ago as he is and never was up to the job.

[Naam]

is it likely that the pound to the THB will fall greatly in the next year? What is more likely- 51% it will fall below 3 more points for a long time or 51% more likely it will not? Place your bets..

my dog has still not confessed where in our garden he buried my crystal ball he stole from my desk. please be patient Will and bear with me.

[cloudhopper]

From an article in the FT declaring the UK is headed for a financial depression:

Albert Edwards, a strategist at Société Générale, likened the British economy to a Ponzi scheme — a fraudulent debt mountain like that allegedly used by the New York hedge fund manager Bernard Madoff.

“What I find amazing is that people aren’t really nailing Gordon Brown and [bank of England Governor] Mervyn King for this,” he said. “At least in the US they had the excuse of the arrival of sub-prime — a new sector of the market. We didn’t really have anything similar but we ended up with a bigger national Ponzi scheme than the US.”

[midas]

I used to be an investment banker and I can honestly say that neither the quants analysts, nor management had anywhere near a full understanding of the cutting edge derivatives which produced such massive profits (and bonuses) almost out of thin air.

The thing is, that using proprietary trading, where you risk the bank's capital, rather than clients money, if one bank won then another lost. All things had to balance. Introduce these derivatives where banks built these packages for coprorate clients and took fees etc. all banks won so no-one complained. The companies were then shit scared of their liabilities so in come the banks again to provide insurance (more fees). They then sold this insurance on and on and on down the line until it reached people who cannot now pay their liabilities. Thus, the liabilities crawl back up the food chain to the banks themselves but the people who set these deals up are either long gone (retired on mega money) or if they are still there, they have the mega money plus alpha in the bank. Even sacking them does not bring it back.

No-one could have foreseen what has happened that is true but neither did anyone bother too much as we had (now worthless) insurance. Effectively, if you can squeeze 1% out of say $1,000,000,000 deal, then you make $10,000,000. Reserve a bit, perhaps $$1-2,000,000 and pay out the remaining as huge sums to the management for being so clever and the deal makers for reinventing the money printing press.

Sad, but true.

Brown is just a simple guy who is way out of his depth but he has been chasing power since going to university a fw years too early. What sort of sad <deleted> does that ? He should have been pensioned off long ago as he is and never was up to the job.

And so torrenova when others on this board who were not previously investment bankers claim to understand all about

derivatives - it seems to me not even they understood what was really going on ?

[mickba]

.....................Brown is just a simple guy who is way out of his depth but he has been chasing power since going to university a fw years too early. What sort of sad <deleted> does that ? He should have been pensioned off long ago as he is and never was up to the job.

Hence the Peter Principle - "In a Hierarchy Every Employee Tends to Rise to His Level of Incompetence."

He only got the job by default when Blair saw the time was right to bale out (OE). Gordon Brown is surely incompetent but my venom is reserved for Blair for inflicting him upon us as he made good his escape.

How many of us can this drowning buffoon take with him now seems to be the question most of us British are contemplating.

Edited January 25, 2009 by mickba

[OxfordWill]

is it likely that the pound to the THB will fall greatly in the next year? What is more likely- 51% it will fall below 3 more points for a long time or 51% more likely it will not? Place your bets..

my dog has still not confessed where in our garden he buried my crystal ball he stole from my desk. please be patient Will and bear with me.

Posh n tosh Mr N. You bang on about logic but shy away from inductively forceful conclusions. Very unsatisfactory- is this the subject in which you hold "enough qualifications to eat most people (academically) for breakfast [sic]" ?

[Naam]

is it likely that the pound to the THB will fall greatly in the next year? What is more likely- 51% it will fall below 3 more points for a long time or 51% more likely it will not? Place your bets..

my dog has still not confessed where in our garden he buried my crystal ball he stole from my desk. please be patient Will and bear with me.

Posh n tosh Mr N. You bang on about logic but shy away from inductively forceful conclusions. Very unsatisfactory- is this the subject in which you hold "enough qualifications to eat most people (academically) for breakfast [sic]" ?

my qualifications do not comprise prophecies Will. especially not fortune telling, voodoo like the reading of chicken entrails or analysing tea leaves which enables some people to make forecasts equivalent to broken clocks telling the correct time twice a day.

i therefore humbly beg your forgiveness and benevolent acceptance of my shortcomings. i promise to improve and study much harder after my next rebirth. till then you have to rely on the forecasts of the multiple Thaivisa prophets who are able see the future crystal clear.

[Khun Jean]

I think you choked on one of the people who you ate for breakfast. The last post doesn't have any information in it whatsoever, as many others. at least you went up a notch in the line count.

[Naam]

I think you choked on one of the people who you ate for breakfast. The last post doesn't have any information in it whatsoever, as many others. at least you went up a notch in the line count.

keep eating your heart out. it is amusing to watch how you try to compensate your frustration with cheap comments which are neither related to the question asked nor to the reasonable answer i gave.

there... there... no need for those thoughts whether to beat up your wife or kick your dog! relax or you might choke

[Ricardo]

is it likely that the pound to the THB will fall greatly in the next year? What is more likely- 51% it will fall below 3 more points for a long time or 51% more likely it will not? Place your bets..

my dog has still not confessed where in our garden he buried my crystal ball he stole from my desk. please be patient Will and bear with me.

Perhaps find two twigs, and have a go yourself, at 'divining' where it is buried ? Alternatively hire one of those ground-radar thingies, used by archaeologists, to do a search ? My charts suggest a 90%-probability, it lies somewhere between the 'defining-boundaries', as represented by your garden-walls ?

Or perhaps we might ask George, to contract for an official ThaiVisa sooth-sayer, to guide our future-investments ?